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SIRCA PAINTS INDIA LIMITED (SIRCA)

Process Industries · Industrial Specialties · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.86 / 100
Profitability 82Growth 78Balance sheet 100
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.63 / 100
Price 38Earnings 54FII/DII 96

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withASIAN PAINTS INDIASOLAR INDUSTRIES INDIAPIDILITE INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹407.55 latest close · +1.3% over the last 90 sessions

₹400₹420₹440Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹400₹420₹440Jul 3Sep 4Nov 9

₹407.55 month-end · −21.6% over 12 months

₹400₹450₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹400₹450₹500Nov '25May '26Nov '26

₹407.55 month-end · +11.7% over 3 years

₹300₹400₹500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹300₹400₹500Nov '23May '25Nov '26

₹407.55 month-end · +298.4% since Jun '20

₹200₹400Jun '20Sep '21Jan '23Apr '24Aug '25Nov '26 ₹200₹400Jun '20Sep '23Nov '26

52-week range ₹385.00 to ₹539.00 · 1-year volatility 28.1%

Was the rally earned?

-22%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 18 points, but investors now pay less per rupee of profit (P/E 53.7x to 34.5x), which took 39 points back.
  • The share count rose 6%.
Net profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23 ptsNet profit growthP/E change: −39 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−39 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: −22%−22%Share priceNet profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23ProfitP/E change: −39 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−39P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: −22%−22%Share price
Net profit growth+23 ptsNet profit rose about 29%, which lifts the price.
P/E change-39 ptsThe P/E fell from 53.7x to 34.5x, which lowers the price.
Share count change-5 ptsShare count rose 6%, which lowers the price.
+12%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 36 points, but investors now pay less per rupee of profit (P/E 43.4x to 34.5x), which took 24 points back.
  • The share count rose 4%.
Net profit growth: +40 pts. Points of the price return explained by net profit growing (or shrinking).+40 ptsNet profit growthP/E change: −24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−24 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: +12%+12%Share priceNet profit growth: +40 pts. Points of the price return explained by net profit growing (or shrinking).+40ProfitP/E change: −24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−24P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: +12%+12%Share price
Net profit growth+40 ptsNet profit rose about 46%, which lifts the price.
P/E change-24 ptsThe P/E fell from 43.4x to 34.5x, which lowers the price.
Share count change-4 ptsShare count rose 4%, which lowers the price.
+65%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 176 points, but investors now pay less per rupee of profit (P/E 81.7x to 34.5x), which took 112 points back.
  • The share count barely moved.
Net profit growth: +178 pts. Points of the price return explained by net profit growing (or shrinking).+178 ptsNet profit growthP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +65%+65%Share priceNet profit growth: +178 pts. Points of the price return explained by net profit growing (or shrinking).+178ProfitP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +65%+65%Share price
Net profit growth+178 ptsNet profit rose about 295%, which lifts the price.
P/E change-112 ptsThe P/E fell from 81.7x to 34.5x, which lowers the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with ASIAN PAINTS INDIA

How rough has the ride been?

Maximum drawdown-52.1%recovered 2021-01
1-year volatility28.1%annualised
Beta vs sector index0.953-year daily, correlation 0.49
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−51.4% 0%−20%−40%2020202220242026−51.4%
Largest drawdowns

-52.1% (2020-02 peak to 2020-05 low, recovered 2021-01)

-45.8% (2019-06 peak to 2019-10 low, recovered 2020-02)

-44.5% (2024-01 peak to 2025-03 low, recovered 2025-07)

Most recent volume spikes

2026-10-29: 8.5x the 50-day median, price +0.6% that day

2026-10-28: 5.8x the 50-day median, price +0.6% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

34.5xP/E todayWithin its usual range
Against its own history21st percentile
CheapestMedian 42.5xDearest

Usual range 31.9x to 67.2x since 2020-06.

Against Process Industries34.5x vs 18.1x
This company
34.5x
Sector median
18.1x

91% above the Process Industries median.

10.5x36.5x62.4x88.4xJun '20Oct '21Feb '23Jun '24Oct '25Nov '2610.5x36.5x62.4x88.4xJun '20Aug '22Oct '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE82nd▲ 4 pts vs a year ago
  • Op. margin81st▼ 6 pts vs a year ago
  • Revenue growth82nd▼ 3 pts vs a year ago
  • EPS growth62nd▲ 4 pts vs a year ago
  • Debt/equity ↓80th▲ 8 pts vs a year ago
  • Cash cycle ↓23rd▲ 7 pts vs a year ago
  • P/E ↓23rd▲ 7 pts vs a year ago
  • 12M momentum31st▼ 63 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~25%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 48.4x, a holder earning 12%/yr needs earnings to grow about 25.0%/yr for 10 years, then trade at 15x.

Delivered23.8%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap+1.2 ptsimplied minus delivered
Rank503rdmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

0%16%33% Jun 2020Nov 2026 0%16%33% Jun 2020Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x26.6%27.7%28.9%
15x23.9%25.0%26.2%
20x20.6%21.6%22.7%

Drag a slider to test other assumptions

Implied: 25.0%/yr

Looking back

  • Jan 2021Price implied 22%/yr; EPS has since grown 17%/yr (6.0 yrs)
  • Jan 2022Price implied 32%/yr; EPS has since grown 31%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹407.55
P/E
34.5x
ROCE
20.0%
Market Cap
₹2318 cr
Revenue (TTM)
₹508 cr
P/S
4.6x
P/B
4.9x
ROE
14.1%
Operating Margin
19.0%
Debt / Equity
0.1x
Promoter Holding
65.2%
12M Momentum
-21.6%

52-week range

₹385.00₹539.00
15% of the way from its 52-week low to its high

Price risk

1Y volatility
28.1%
Beta vs sector
1-year daily
0.97

Balance sheet & cash

Interest cover
operating profit ÷ interest
23.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.85x
Share count, 1Y
+3.6%

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance6%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.85xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.85x (cash from operations ₹140 cr, net profit ₹165 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+38 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 38 days (115 vs 77). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+4 days / 2 yrsWithin range

Days payable changed by +4 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs added 3.5 pts; promoters trimmed 2.4 pts.
  • The number of shareholders fell from 45,025 to 37,017 (-18%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters67.5%65.2%-2.4 pts
FIIs5.9%6.1%+0.1 pts
DIIs0.0%3.5%+3.5 pts
Public and others26.5%25.2%-1.3 pts

Number of shareholders

37,017shareholders-18% since Sep '23
37k44k51k58k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 45,025
Dec '23: 51,911
Mar '24: 57,376
Jun '24: 57,689
Sep '24: 56,926
Dec '24: 53,079
Mar '25: 52,101
Jun '25: 46,029
Sep '25: 43,816
Dec '25: 40,526
Mar '26: 37,648
Jun '26: 37,017
 37k44k51k58k Sep '23Sep '24Sep '25Jun '26
Sep '23: 45,025
Dec '23: 51,911
Mar '24: 57,376
Jun '24: 57,689
Sep '24: 56,926
Dec '24: 53,079
Mar '25: 52,101
Jun '25: 46,029
Sep '25: 43,816
Dec '25: 40,526
Mar '26: 37,648
Jun '26: 37,017

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−7.1%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like SIRCA PAINTS INDIA LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −24% to +28% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (−3.3%, 80% range −12.4% to +3.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
TATVA · Feb 2023: −57.6% vs market
IKIO · Feb 2025: −45.8% vs market
LAOPALA · Oct 2023: −41.9% vs market
NATCOPHARM · Feb 2022: −37.5% vs market
VINATIORGA · Oct 2025: −36.5% vs market
RESPONIND · Jan 2025: −36.0% vs market
LATENTVIEW · Jun 2025: −34.3% vs market
VIDHIING · Jun 2025: −32.3% vs market
ATUL · Nov 2022: −31.0% vs market
RALLIS · Jan 2021: −30.0% vs market
KKCL · Jun 2020: −29.0% vs market
BECTORFOOD · Oct 2025: −28.4% vs market
TTKPRESTIG · May 2022: −24.3% vs market
INDIGOPNTS · Feb 2025: −22.2% vs market
CERA · Jul 2024: −22.2% vs market
STARCEMENT · Jun 2020: −21.9% vs market
JAMNAAUTO · Feb 2023: −20.5% vs market
CENTURYPLY · May 2023: −18.8% vs market
GRINDWELL · Mar 2025: −18.0% vs market
ADVENZYMES · Jun 2024: −17.5% vs market
VGUARD · Aug 2021: −12.9% vs market
RATNAMANI · May 2025: −12.0% vs market
TATATECH · May 2025: −10.8% vs market
AIAENG · May 2024: −9.5% vs market
GALAXYSURF · Nov 2021: −7.7% vs market
PRINCEPIPE · Jun 2022: −6.5% vs market
SAFARI · Oct 2024: −5.7% vs market
JYOTHYLAB · Jun 2021: −3.4% vs market
GARFIBRES · Apr 2022: −3.0% vs market
VESUVIUS · Dec 2024: +0.2% vs market
KAJARIACER · Oct 2022: +6.3% vs market
HAPPYFORGE · Dec 2024: +9.0% vs market
ICRA · Jun 2024: +13.6% vs market
MIDHANI · May 2022: +13.7% vs market
POLYMED · Feb 2022: +18.5% vs market
SFL · Jun 2021: +19.2% vs market
METROPOLIS · Jun 2025: +26.4% vs market
RADICO · Mar 2021: +28.3% vs market
BIKAJI · Apr 2024: +29.3% vs market
NEWGEN · Feb 2021: +42.4% vs market
CCL · Jan 2021: +44.7% vs market
AFFLE · May 2024: +45.2% vs market
KSB · Jul 2020: +45.9% vs market
THYROCARE · Jun 2024: +52.3% vs market
CARBORUNIV · May 2020: +54.5% vs market
CARERATING · Jun 2024: +64.8% vs market
ELGIEQUIP · Mar 2020: +89.5% vs market
POWERINDIA · Mar 2021: +108.5% vs market
ACUTAAS · Mar 2024: +115.4% vs market
KPITTECH · May 2020: +183.7% vs market
Similar setups −7.1%All companies −3.8%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median
−7.1%
All companies' median
−3.8%
Beat the market
42% vs 46%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GARFIBRES
Producer Manufacturing		 Apr 2022 40x24% +16%−21% −3%
THYROCARE
Health Services		 Jun 2024 48x18% +23%−8% +52%
INDIGOPNTS
Process Industries		 Feb 2025 35x23% −27%−39% −22%
KKCL
Consumer Non-Durables		 Jun 2020 13x20% −34%−35% −29%
AFFLE
Technology Services		 May 2024 62x20% +19%−14% +45%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CARBORUNIV
Process Industries		 May 2020 17x21% −41%−41% +55%
VGUARD
Producer Manufacturing		 Aug 2021 52x26% +46%−13% −13%
HAPPYFORGE
Producer Manufacturing		 Dec 2024 36x23% −3%−22% +9%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and ROCE. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to SIRCA PAINTS INDIA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

ARKADE DEVELOPERSARKADE
Finance
65%similar
operating marginmarket cap
THEJO ENGINEERINGTHEJO
Distribution Services
63%similar
market capROCE
CARE RATINGSCARERATING
Commercial Services
62%similar
revenuevolatility
WINDLAS BIOTECHWINDLAS
Health Technology
61%similar
debt/equitymarket cap
ICRAICRA
Commercial Services
60%similar
EPS growthrevenue
INDIGO PAINTSINDIGOPNTS
Process Industries
52%similar
ROCEoperating margin
FOSECO INDIAFOSECOIND
Process Industries
50%similar
promoter holdingrevenue
KINGFA SCIENCE & TECH (I)KINGFA
Process Industries
47%similar
P/Epromoter holding

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Sep '22

  1. OctPriceVolume reached 8.5x its 50-day median on 2026-10-29; price +0.6% that day.
  2. SepInstitutionsFII + DII holding rose 3.3 pts over 1 quarter to 9.6%.
  3. JulPriceFell 27% from the Nov 2025 peak to the Jul 2026 low.
  4. MayPriceVolume reached 13.7x its 50-day median on 2026-05-08; price -0.5% that day.
  5. DecPromoterPromoter holding fell 2.4 pts to 65.2%.
  6. NovPriceVolume reached 5.1x its 50-day median on 2025-11-10; price +3.2% that day.
  7. SepResultsYear-on-year EPS growth turned positive.
  8. SepPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
Show 22 earlier events
  1. JulPriceRegained the 2024-01 peak, 4 months after the low.
  2. JulPriceVolume reached 7.7x its 50-day median on 2025-07-07; price +6.3% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  5. JunPriceVolume reached 7.1x its 50-day median on 2025-06-10; price +2.8% that day.
  6. MarPriceFell 44% from the Jan 2024 peak to the Mar 2025 low.
  7. MarValuationP/E fell below the 10th percentile of its own history to date (27.9x).
  8. MarPriceVolume reached 14.4x its 50-day median on 2025-03-20; price +11.1% that day.
  9. NovPriceVolume reached 5.8x its 50-day median on 2024-11-05; price +2.9% that day.
  10. JulPriceVolume reached 15.1x its 50-day median on 2024-07-16; price +5.4% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹312 cr.
  12. JunPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
  13. JanPriceVolume reached 7.2x its 50-day median on 2024-01-05; price +3.7% that day.
  14. DecPriceVolume reached 7.6x its 50-day median on 2023-12-18; price +3.8% that day.
  15. AugPriceVolume reached 7.0x its 50-day median on 2023-08-18; price +4.9% that day.
  16. JunResultsRevenue (TTM) reached a new high of ₹264 cr.
  17. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  18. JunDividendDividend payout cut from 20% to 9% of profit.
  19. AprPriceVolume reached 13.3x its 50-day median on 2023-04-27; price +0.6% that day.
  20. MarPriceVolume reached 13.9x its 50-day median on 2023-03-23; price +2.9% that day.
  21. DecPriceVolume reached 13.9x its 50-day median on 2022-12-14; price +4.1% that day.
  22. SepPriceRegained the 2021-12 peak, 6 months after the low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history78 months · 2020-06 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1134.5x₹508 cr14.1%20.0%0.1x
2026-1034.4x₹508 cr14.1%20.0%0.1x
2026-0934.8x₹508 cr14.1%20.0%0.1x
2026-0837.7x₹492 cr13.7%20.0%0.1x
2026-0736.4x₹492 cr13.7%20.0%0.1x
2026-0634.9x₹492 cr13.7%20.0%0.1x
2026-0538.0x₹459 cr17.4%19.0%0.1x
2026-0438.5x₹459 cr17.4%19.0%0.1x
2026-0336.5x₹459 cr17.4%19.0%0.1x
2026-0243.8x₹435 cr16.3%19.0%0.1x
2026-0144.4x₹435 cr16.3%19.0%0.1x
2025-1246.6x₹435 cr16.3%19.0%0.1x
2025-1153.7x₹409 cr14.9%19.0%0.1x
2025-1053.7x₹409 cr14.9%19.0%0.1x
2025-0949.3x₹409 cr14.9%19.0%0.1x
2025-0851.8x₹374 cr13.7%19.0%0.1x
2025-0748.7x₹374 cr13.7%19.0%0.1x
2025-0642.6x₹374 cr13.7%19.0%0.1x
2025-0540.4x₹356 cr15.2%24.0%0.0x
2025-0433.5x₹356 cr15.2%24.0%0.0x
2025-0327.9x₹356 cr15.2%24.0%0.0x
2025-0231.8x₹339 cr15.2%24.0%0.0x
2025-0137.1x₹339 cr15.2%24.0%0.0x
2024-1240.5x₹339 cr15.2%24.0%0.0x
2024-1138.1x₹318 cr16.2%24.0%0.0x
2024-1038.5x₹318 cr16.2%24.0%0.0x
2024-0937.9x₹318 cr16.2%24.0%0.0x
2024-0834.3x₹312 cr17.2%24.0%0.0x
2024-0738.7x₹312 cr17.2%24.0%0.0x
2024-0634.2x₹312 cr17.2%24.0%0.0x
2024-0537.3x₹264 cr17.4%25.0%0.0x
2024-0437.6x₹264 cr17.4%25.0%0.0x
2024-0333.8x₹264 cr17.4%25.0%0.0x
2024-0241.3x₹264 cr17.4%25.0%0.0x
2024-0145.4x₹264 cr17.4%25.0%0.0x
2023-1248.7x₹264 cr17.4%25.0%0.0x
2023-1143.4x₹264 cr17.4%25.0%0.0x
2023-1043.3x₹264 cr17.4%25.0%0.0x
2023-0946.2x₹264 cr17.4%25.0%0.0x
2023-0848.7x₹264 cr17.4%25.0%0.0x
2023-0744.4x₹264 cr17.4%25.0%0.0x
2023-0641.1x₹264 cr17.4%25.0%0.0x
2023-0559.5x₹196 cr12.4%18.0%0.0x
2023-0460.0x₹196 cr12.4%18.0%0.0x
2023-0363.7x₹196 cr12.4%18.0%0.0x
2023-0261.4x₹196 cr12.4%18.0%0.0x
2023-0162.1x₹196 cr12.4%18.0%0.0x
2022-1266.4x₹196 cr12.4%18.0%0.0x
2022-1168.9x₹196 cr12.4%18.0%0.0x
2022-1057.9x₹196 cr12.4%18.0%0.0x
2022-0958.8x₹196 cr12.4%18.0%0.0x
2022-0852.7x₹196 cr12.4%18.0%0.0x
2022-0750.4x₹196 cr12.4%18.0%0.0x
2022-0642.4x₹196 cr12.4%18.0%0.0x
2022-0574.1x₹141 cr8.5%11.0%0.1x
2022-0482.2x₹141 cr8.5%11.0%0.1x
2022-0376.7x₹141 cr8.5%11.0%0.1x
2022-0273.2x₹141 cr8.5%11.0%0.1x
2022-0184.9x₹141 cr8.5%11.0%0.1x
2021-1288.4x₹141 cr8.5%11.0%0.1x
2021-1181.7x₹141 cr8.5%11.0%0.1x
2021-1059.8x₹141 cr8.5%11.0%0.1x
2021-0958.6x₹141 cr8.5%11.0%0.1x
2021-0855.2x₹141 cr8.5%11.0%0.1x
2021-0755.9x₹141 cr8.5%11.0%0.1x
2021-0654.1x₹141 cr8.5%11.0%0.1x
2021-0539.7x₹134 cr13.6%—0.0x
2021-0437.1x₹134 cr13.6%—0.0x
2021-0334.4x₹134 cr13.6%—0.0x
2021-0237.0x₹134 cr13.6%—0.0x
2021-0139.1x₹134 cr13.6%—0.0x
2020-1232.0x₹134 cr13.6%—0.0x
2020-1126.8x₹134 cr13.6%—0.0x
2020-1027.0x₹134 cr13.6%—0.0x
2020-0928.3x₹134 cr13.6%—0.0x
2020-0826.6x₹134 cr13.6%—0.0x
2020-0723.3x₹134 cr13.6%—0.0x
2020-0622.3x₹134 cr13.6%—0.0x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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